Aurora Innovation (NASDAQ:AUR) Shares Down 6.2%

Aurora Innovation, Inc. (NASDAQ:AUR) dropped 6.2% during mid-day trading on Tuesday . The company traded as low as $2.85 and last traded at $2.86. Approximately 1,761,955 shares were traded during trading, a decline of 74% from the average daily volume of 6,781,303 shares. The stock had previously closed at $3.05.

Analyst Ratings Changes

AUR has been the subject of a number of analyst reports. TD Cowen cut their price objective on Aurora Innovation from $3.50 to $3.00 and set a “market perform” rating for the company in a report on Friday, March 15th. The Goldman Sachs Group cut Aurora Innovation from a “neutral” rating to a “sell” rating and lifted their price objective for the company from $1.75 to $2.00 in a report on Wednesday, January 3rd. Finally, Canaccord Genuity Group lifted their price objective on Aurora Innovation from $5.50 to $6.00 and gave the company a “buy” rating in a report on Friday, March 15th.

Aurora Innovation Trading Down 8.9 %

The stock has a market cap of $4.27 billion, a P/E ratio of -4.66 and a beta of 2.91. The company has a 50 day simple moving average of $2.68 and a 200 day simple moving average of $2.78.

Aurora Innovation (NASDAQ:AUR) last released its earnings results on Wednesday, February 14th. The company reported ($0.13) earnings per share (EPS) for the quarter.

Insider Buying and Selling

In other Aurora Innovation news, Director Reid Hoffman sold 1,000,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $2.52, for a total value of $2,520,000.00. Following the completion of the sale, the director now owns 463,563 shares of the company’s stock, valued at $1,168,178.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 13.83% of the stock is currently owned by insiders.

Institutional Trading of Aurora Innovation

Hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in shares of Aurora Innovation by 5.9% in the 4th quarter. Vanguard Group Inc. now owns 83,516,588 shares of the company’s stock worth $364,967,000 after purchasing an additional 4,625,559 shares in the last quarter. Baillie Gifford & Co. lifted its stake in shares of Aurora Innovation by 125.3% in the 3rd quarter. Baillie Gifford & Co. now owns 33,634,164 shares of the company’s stock valued at $79,040,000 after acquiring an additional 18,703,703 shares during the last quarter. FMR LLC raised its position in Aurora Innovation by 823.6% during the 3rd quarter. FMR LLC now owns 21,315,044 shares of the company’s stock valued at $50,090,000 after purchasing an additional 19,007,248 shares during the last quarter. Wellington Management Group LLP raised its position in Aurora Innovation by 48.6% during the 3rd quarter. Wellington Management Group LLP now owns 18,060,657 shares of the company’s stock valued at $42,443,000 after purchasing an additional 5,903,484 shares during the last quarter. Finally, Greylock 15 GP LLC bought a new position in Aurora Innovation during the 4th quarter valued at approximately $61,604,000. 44.71% of the stock is currently owned by institutional investors.

About Aurora Innovation

Aurora Innovation, Inc operates as a self-driving technology company in the United States. It focuses on developing Aurora Driver, a platform that brings a suite of self-driving hardware, software, and data services together to adapt and interoperate vehicles. The company was founded in 2017 and is headquartered in Pittsburgh, Pennsylvania.